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Tuesday, July 23, 2013

The retailer began operating at the location on January 31 2012 and reported sales of $8.7m in its first 11 months of trading.

Korean travel retailer Lotte Duty Free is targeting sales of $15m in 2013 at Jakarta Soekarno-Hatta International airport having reported sales of $8.7m in its first 11 months of trading at the airport.

On January 31 2012 the retailer opened two stores in terminal two known as Shop A and Shop B covering 880sq m of retail space marking the start of its overseas expansion. Shop A offers core items such as perfumes and cosmetics, liquor and tobacco and souvenirs, while Shop B consists of bags, accessories and gifts and standalone branded boutiques from the likes of Montblanc, Longchamp, MCM, Tumi and Coach― the latter appearing in an Indonesian airport for the first time in a boutique format and performing very well.

Lotte has since opened a new stand-alone speciality store at Singapore Changi T2, the tenancy for which began on May 1 2012 and began operating the T1 fashion-wear concession at the same airport. The 304sq m shop opened last November and the contract will run until September 30 2015.

It has also secured the controversial duty-free contract at Guam International airport.
Speaking to DFNIonline during a recent visit to the airport, Lotte Duty Free Indonesia vice president director Shawn Lim said: “We are outperforming last year in terms of sales on a month-to-month basis. It took a while to settle down and ensure all elements were to our liking, but we still achieved sales of $8.7m in 2012. Hopefully we can improve on this much more in 2013.”